Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Q4 2022 Earnings Call Transcript

Fred Vogt: Too many earnings calls today.

Ben Burnett: Alright. I appreciate the help. Thanks, guys.

Operator: Thank you. Our next question comes from the line of Reni Benjamin from JMP Securities.

Reni Benjamin: Hey, good afternoon, guys. Thanks for taking the questions. I guess just to start off maybe for Frederick, the PD1 selected TIL studies, the PBL therapy and the PD-1 inactivated TILs, can you give us a sense as to how those studies are progressing and kind of off Mark’s question, you think this is something that we might see some initial data for at the end of this year? I guess that would be question number one. Question number two would be, the Proleukin revenues are supposed to be, I think near-term or imminent right like once the deal is done? Can you just €“ I think you have talked about in the past, but can you just remind us what sort of near-term revenues you expect from Proleukin this year?

Fred Vogt: Yes, why don’t I take the first one and then I’ll have Jean-Marc cover the revenues. We can’t give you guidance on revenues, Reni, but we can tell you historically, what revenues have been for that product and so you can figure out how look when particularly upon launch of lifileucel. For the PD1 selected and PD1 knockout, the PD1 selected program, both of those programs are running and we could be putting data on LMOs tis year, at some point. PD1 knockout in particular is of high interest to us, that’s why it’s on the highlights of our portfolio, because that particularly in lung and in melanoma should we think give us additional efficacy. So we are very excited about that. That’s one that when we have data, we will be putting it out pretty quickly. PD1 select is something we have been running for a while and at some point, we will discuss that further. Jean-Marc, do you want to cover the revenue?

Jean-Marc Bellemin: Yes, thank you, Fred and thank you very much for the question. I mean, as Fred mentioned, we are not giving any kind of revenue guidance. First of all, we need to grow the deal first and then we can talk and be more specific about the potential in the future. What we have publicly communicated is the revenue that was generated by Clinigen, which probably came in the past and we were mentioning 2021 was close to £30 million or $35 million. So, that’s the only indication that we were giving in terms of past revenue.

Reni Benjamin: Got it. Okay. And just one final one, this really just has to do with mainly the CEO search, is that still going, Fred? Are you dying to move your interim that is to something more permanent? And I will throw it out there, Christi Shaw has left Gilead, is someone close to that name joining anytime soon? That’s it for us.

Fred Vogt: Yes, I can’t say specifics like that, but the search is ongoing and no, it won’t be me. So at some point, we will be able to talk more about that and the Board is definitely interested in finding somebody who knows.

Reni Benjamin: Thanks, Fred.

Operator: Thank you. Our next question comes from the line of Mara Goldstein from Mizuho Group.